Commerce Bancshares Inc. (CBSH) Receives Consensus Rating of “Hold” from Analysts
Shares of Commerce Bancshares Inc. (NASDAQ:CBSH) have earned an average recommendation of “Hold” from the seven research firms that are covering the firm. One equities research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $44.70.
Several equities research analysts have issued reports on CBSH shares. Zacks Investment Research cut shares of Commerce Bancshares from a “hold” rating to a “sell” rating in a research note on Tuesday, June 14th. Jefferies Group reaffirmed a “hold” rating and set a $48.00 target price on shares of Commerce Bancshares in a research note on Thursday, July 7th. Piper Jaffray Cos. started coverage on shares of Commerce Bancshares in a research note on Monday, July 11th. They set a “neutral” rating and a $43.50 target price on the stock. Finally, Morgan Stanley cut shares of Commerce Bancshares from an “equal weight” rating to an “underweight” rating and set a $45.00 target price on the stock. in a research note on Tuesday, September 20th.
Commerce Bancshares (NASDAQ:CBSH) traded down 0.85% on Tuesday, hitting $50.02. 68,937 shares of the stock were exchanged. Commerce Bancshares has a 52-week low of $37.44 and a 52-week high of $51.30. The stock’s 50 day moving average price is $49.51 and its 200 day moving average price is $47.79. The firm has a market cap of $4.83 billion, a PE ratio of 19.16 and a beta of 0.74.
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Commerce Bancshares (NASDAQ:CBSH) last released its quarterly earnings results on Wednesday, July 13th. The financial services provider reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.02. Commerce Bancshares had a net margin of 23.03% and a return on equity of 11.58%. The firm had revenue of $288.40 million for the quarter, compared to analysts’ expectations of $295.65 million. During the same quarter last year, the company earned $0.71 EPS. The firm’s revenue for the quarter was up 3.9% compared to the same quarter last year. Equities research analysts forecast that Commerce Bancshares will post $2.77 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, September 26th. Stockholders of record on Friday, September 9th were issued a dividend of $0.225 per share. The ex-dividend date was Wednesday, September 7th. This represents a $0.90 annualized dividend and a dividend yield of 1.78%. Commerce Bancshares’s dividend payout ratio is presently 34.50%.
In other news, Vice Chairman Jonathan M. Kemper sold 50,000 shares of Commerce Bancshares stock in a transaction on Thursday, September 8th. The stock was sold at an average price of $50.07, for a total transaction of $2,503,500.00. Following the transaction, the insider now owns 1,192,407 shares in the company, valued at approximately $59,703,818.49. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO David W. Kemper sold 40,000 shares of Commerce Bancshares stock in a transaction on Friday, July 15th. The stock was sold at an average price of $48.86, for a total value of $1,954,400.00. Following the transaction, the chief executive officer now owns 1,316,068 shares in the company, valued at approximately $64,303,082.48. The disclosure for this sale can be found here. Insiders own 4.60% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of CBSH. Speece Thorson Capital Group Inc. raised its stake in shares of Commerce Bancshares by 1.4% in the second quarter. Speece Thorson Capital Group Inc. now owns 279,621 shares of the financial services provider’s stock valued at $13,394,000 after buying an additional 3,816 shares during the period. Prudential Financial Inc. raised its stake in shares of Commerce Bancshares by 3.0% in the first quarter. Prudential Financial Inc. now owns 74,699 shares of the financial services provider’s stock valued at $3,358,000 after buying an additional 2,200 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Commerce Bancshares by 198.9% in the first quarter. JPMorgan Chase & Co. now owns 228,753 shares of the financial services provider’s stock valued at $10,282,000 after buying an additional 152,209 shares during the period. Aviva PLC raised its stake in shares of Commerce Bancshares by 0.9% in the first quarter. Aviva PLC now owns 49,192 shares of the financial services provider’s stock valued at $2,211,000 after buying an additional 457 shares during the period. Finally, Ameriprise Financial Inc. raised its stake in shares of Commerce Bancshares by 3.2% in the second quarter. Ameriprise Financial Inc. now owns 216,221 shares of the financial services provider’s stock valued at $10,356,000 after buying an additional 6,783 shares during the period. Institutional investors and hedge funds own 60.86% of the company’s stock.
About Commerce Bancshares
Commerce Bancshares, Inc is a bank holding company of Commerce Bank (the Bank). The Bank is engaged in general banking business, providing a range of retail, corporate, investment, trust and asset management products and services to individuals and businesses. The Company operates through three segments: Consumer, Commercial and Wealth.
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